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When a property closes the seller gets the net proceed from the transaction in cash. The difference between a cash offer and a non cash offer is the financing. An offer that has financing is contingent upon obtaining a loan. Obtaining a loan may have an apprasial contingency. If it is an older home it may be subject to a four point inspection to get insurance. Getting the loan may depend upon the buyer satisfying condition fro the underwriter of the loan.

So, on a financed purchase offer the seller is not certain of closing or the good faith depoisit becoming hard money untill the loan committment is delivered to the buyer and then the seller. A lot can go wrong with the process, which is way a cash offer is more desirable to the seller.

It would appear that purchasers that have equity (most likely baby boomers) are using equity from the sale of their long held property to purchase new properties with cash. A cash offer is stroner than a financed offer. Just one caveat to the buyer, make sure you are getting the proper discount for the cash offer and be sure to protect yourself by making sure the value of the property you are purchasing is what you expect.